The appeal process in the Ripple Labs vs. SEC case is currently frozen, sparking discussions in the crypto community.
Pause in Ripple Appeal
The appellate process in the case between Ripple Labs and the U.S. Securities and Exchange Commission has been temporarily halted following a joint request from both parties. Judge José A. Cabranes officially granted the request for a pause. The SEC is required to provide a status report within two months, leaving the case without further arguments or rulings for now.
Leadership Change at SEC and Its Implications
The departure of former SEC chair Gary Gensler, who oversaw the agency's active enforcement against crypto firms, coincides with the SEC's withdrawal of its appeal in the Ripple case. This may signal a potential shift in the regulator's approach to the crypto industry. New appointee Paul Atkins, having received Senate approval, is expected to address the Ripple dispute and other ongoing regulatory issues.
XRP Market Amid Legal Changes
Despite the legal developments, XRP's price has fallen by 2% in the past 24 hours. Analysts note that the pause, though seen as a positive signal, had already been factored into the market, limiting the price reaction. Members of the XRP community express mixed feelings about the current state of affairs.
The Ripple case is now on hold, and the market awaits the SEC's next move under new leadership. The lack of clarity continues to concern XRP holders, who are looking for an end to the long-standing dispute.
